Synergy Pharmaceuticals, Inc. (SGYP) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) from a sell rating to a hold rating in a research note issued to investors on Thursday. The brokerage currently has $3.25 price target on the biopharmaceutical company’s stock.

According to Zacks, “Synergy Pharmaceuticals, Inc. is a biopharmaceutical company focused primarily on the development of drugs to treat gastrointestinal disorders and diseases. Its lead drug candidate plecanatide is a guanylyl cyclase C receptor agonist, to treat GI disorders, primarily chronic constipation and constipation-predominant- irritable bowel syndrome. It is also engaged in developing receptor agonist for the treatment of gastrointestinal inflammatory diseases, such as ulcerative colitis. Synergy Pharmaceuticals, Inc. is headquartered in New York, New York. “

A number of other analysts have also recently commented on SGYP. Cantor Fitzgerald restated a buy rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a research report on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $9.00 price target on Synergy Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, August 10th. HC Wainwright set a $15.00 price target on Synergy Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, August 10th. Rodman & Renshaw reduced their price target on Synergy Pharmaceuticals from $18.00 to $15.00 and set a buy rating for the company in a research report on Thursday, August 10th. Finally, Canaccord Genuity set a $13.00 price target on Synergy Pharmaceuticals and gave the stock a buy rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Synergy Pharmaceuticals presently has an average rating of Hold and an average target price of $8.39.

Synergy Pharmaceuticals (NASDAQ:SGYP) traded down $0.25 during mid-day trading on Thursday, reaching $2.72. The company’s stock had a trading volume of 20,258,900 shares, compared to its average volume of 5,231,931. Synergy Pharmaceuticals has a 52 week low of $2.56 and a 52 week high of $7.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.07 and a current ratio of 2.33.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.06. The company had revenue of $5.01 million during the quarter, compared to analysts’ expectations of $4.53 million. During the same quarter in the previous year, the company earned ($0.22) EPS. equities analysts predict that Synergy Pharmaceuticals will post -1.13 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Synergy Pharmaceuticals, Inc. (SGYP) Lifted to “Hold” at Zacks Investment Research” was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The legal version of this report can be accessed at https://www.chaffeybreeze.com/2017/11/12/synergy-pharmaceuticals-inc-sgyp-lifted-to-hold-at-zacks-investment-research.html.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Synergy Pharmaceuticals by 10.4% during the second quarter. Vanguard Group Inc. now owns 17,422,326 shares of the biopharmaceutical company’s stock worth $77,530,000 after purchasing an additional 1,636,563 shares in the last quarter. State Street Corp grew its position in shares of Synergy Pharmaceuticals by 2.4% during the second quarter. State Street Corp now owns 12,933,104 shares of the biopharmaceutical company’s stock worth $57,552,000 after purchasing an additional 306,989 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Synergy Pharmaceuticals by 71.3% during the third quarter. JPMorgan Chase & Co. now owns 3,405,377 shares of the biopharmaceutical company’s stock worth $8,820,000 after purchasing an additional 1,417,177 shares in the last quarter. Northern Trust Corp grew its position in shares of Synergy Pharmaceuticals by 15.3% during the second quarter. Northern Trust Corp now owns 2,804,768 shares of the biopharmaceutical company’s stock worth $12,481,000 after purchasing an additional 372,683 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its position in shares of Synergy Pharmaceuticals by 30.8% during the third quarter. Pictet Asset Management Ltd. now owns 2,611,536 shares of the biopharmaceutical company’s stock worth $7,574,000 after purchasing an additional 615,025 shares in the last quarter. Hedge funds and other institutional investors own 71.63% of the company’s stock.

Synergy Pharmaceuticals Company Profile

Synergy Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s product candidates include TRULANCE (plecanatide) and dolcanatide. The Company is engaged in the discovery, research and development efforts around analogs of uroguanylin for the treatment of GI diseases and disorders.

Get a free copy of the Zacks research report on Synergy Pharmaceuticals (SGYP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

Receive News & Ratings for Synergy Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synergy Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply